Broker to Stars Pleads Guilty

By Stephen M. Silverman

11/11/1997 at 12:00 AM EST

A sobbing Dana Giacchetto, 37, the money manager who befriended stars (including Leonardo DiCaprio, Cameron Diaz and Matt Damon) and promised them safe financial havens, pleaded guilty to fraud charges and acknowledged in a Manhattan Federal District Courtroom yesterday that he misappropriated some of his client's money. He faces up to 57 months in prison and a maximum fine of $100,000, as well as restitution payments to his victims. He is to be sentenced on Nov. 3.